KUALA LUMPUR, March 25 — Investigations into allegations of a “corporate mafia” are being conducted methodically, one step at a time, Home Minister Datuk Seri Saifuddin Nasution Ismail said today.

Speaking at a press conference after the 219th Police Day celebrations at the Police Training Centre (Pulapol) here, Saifuddin said an investigation paper has been opened, with authorities first working to establish the direction of the probe before identifying the modus operandi and individuals involved.

“The police are investigating under the Anti-Money Laundering Act (AMLA), but there is also another regulatory agency involved, namely the Securities Commission (SC), which has its own legislation that may also be applied in the investigation. Therefore, this inquiry will involve investigations under both the SC’s regulatory framework and AMLA,” he said.

“Let us proceed step by step. First, the AMLA team within the police will establish the direction of the investigation, after which the modus operandi will be identified. We will then reach out to those involved,” he added.

Saifuddin said any decision to restrict the travel documents of those involved, whether immediately or later, would be based on the findings of the investigation.

“I have been briefed by the Inspector-General of Police (IGP) and the team, and I am confident in their capability to carry out the investigation,” he said.

Inspector-General of Police Tan Sri Mohd Khalid Ismail had previously confirmed that businessman Victor Chin is linked to matters being investigated under AMLA. He added that Chin is currently believed to be abroad as authorities seek international cooperation to advance the probe.

The allegations surrounding the purported “corporate mafia” have drawn significant public attention following claims involving forced takeovers of public-listed companies and possible links to enforcement agencies, which Chin has denied. Chin has also claimed that a “Mr R” is involved in the process.